Business & Economics

Rupee Bounces From Asia's Weakest Currency

BP World Bureau | Feb 22 2021 07:56:13 PM
Image credits: Twitter

NEW DELHI: Rupee, which was once Asia's weakest currency, is now performing well as massive inflows into the Indian stock markets help the currency overcome the central bank's intervention barrier.

As a positive sign of its growth, the rupee has gained 0.6% this year against the dollar.

An expansive budget is luring global funds to India's equities, with investors buying almost $4 billion of stocks this month which is also, after China, the most in Asia's emerging markets.

Read: India Wants To Progress Fast: PM Modi Hails Budget 

Economists said that the data is expected to show that India exited a recession with a 0.5% expansion year-on-year in the fourth quarter.